Heartland, Inc. announced the Company finished the second quarter of 2008 with continued profitability. Net Profits (EBIDA) for the first half of 2008 were $831,257 with sales of $10,258,584. These results were outstanding when compared to 2007 sales & profits of $6,487,341 and a loss of $1,125,896 respectively. Heartland, Inc. has now reported operational profits or positive cash flow, in each of the last four quarters dating back to the third quarter of 2007.

Prospects for continued profitability and increased sales are excellent due to market and acquisition activities relating to the recently finished quarter.

Heartland has a definitive agreement to purchase the Lee Oil Company with operations in Tennessee, Virginia and Kentucky. Financing is in place to accomplish this acquisition by the end of September. The board of Heartland is excited about this acquisition as it will add considerably to the sales and profits of Heartland.

In addition to this acquisition, cost controls and marketing efforts have created a profitable backlog of work at Mound Technologies, Inc., a wholly owned subsidiary of Heartland, Inc. that extends into 2009.

Heartland, Inc. is optimistic about the future. Following the acquisition of Lee Oil, Heartland, Inc. will have profitable interests in both oil distribution and fabricated metals. Heartland is a profitable company with experienced management that is embarking on a path of consistent, sustainable growth. These are exciting times for Heartland Inc.

From heavy machining and fabricated steel products to oil distribution and retail, Heartland, Inc., is developing broad product and service offerings to provide economic protection and growth opportunities for investors. For more on the company please visit www.heartlandholdingsinc.com.

This entry was posted by Gold Mining on Thursday, August 21st, 2008 at 7:27 pm and is filed under Steel & Iron. Tags: Acquisition, Company, fabricated steel products, Heartland Inc., Kent, Kentucky, Lee Oil Company, Managem, metal, Mound Technologies Inc., oil, oil distribution, owned subsidiary, products, retail, steel, steel products, Tennessee, Virginia. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.